This book pulls together papers presented at a conference in honour of the 1981 Nobel Prize Winner for Economic Science, the late James Tobin. Among the contributors are Olivier Blanchard, Edmund Phelps, Charles Goodhart and Marco Buti.
One of the main aims of the conference was to discuss what potential role monetary policy has on economic activity and unemployment reduction in three key currency zones - the United States, European Union and Japan.

chapter 1|4 pages


ByWilli Semmler
Size: 0.15 MB

part I|15 pages


chapter 2|6 pages

Monetary policy and unemployment

ByOlivier Blanchard
Size: 0.17 MB

chapter 3|4 pages

Some notes on monetary policy and unemployment

ByEdmund Phelps
Size: 0.18 MB
Size: 0.17 MB

part II|79 pages

Labor market institutions and unemployment

chapter 5|33 pages

The role of shocks and institutions in the rise of European unemployment

The aggregate evidence
ByOlivier Blanchard, Justin Wolfers
Size: 0.59 MB

chapter 6|7 pages

Labor market institutions and unemployment in Europe

A comment on Blanchard and Wolfers
ByDavid R. Howell
Size: 0.19 MB

chapter 7|37 pages

Labor market dynamics in the Euro-area

A model-based sensitivity analysis
ByAlistair Dieppe, Jérôme Henry, Peter McAdam
Size: 0.78 MB

part III|102 pages

Structuralist causes of unemployment and monetary policy

chapter 8|27 pages

The structuralist perspective on real exchange rate, share price level, and employment path

What room is left for money?
ByHian Teck Hoon, Edmund Phelps, Gylfi Zoega
Size: 0.51 MB

chapter 9|34 pages

The long stagnation and monetary policy in Japan

A theoretical explanation
ByMasanao Aoki, Hiroshi Yoshikawa, Toshihiro Shimizu
Size: 0.62 MB

chapter 10|39 pages

Monetary policy, the labor market, and pegged exchange rates

A study of the German economy
ByPeter Flaschel, Gang Gong, Willi Semmler
Size: 1.00 MB

part IV|69 pages

Monetary policy rules, fiscal policy, and unemployment

chapter 11|10 pages

The constitutional position of the Central Bank

ByCharles Goodhart
Size: 0.19 MB

chapter 12|21 pages

Activist stabilization policy and inflation

The Taylor rule in the 1970s
ByAthanasios Orphanides
Size: 0.39 MB

chapter 13|16 pages

The Fed's monetary policy rule

Past, present, and future
ByAntonio Moreno
Size: 0.40 MB

chapter 14|20 pages

What is the impact of tax and welfare reforms on fiscal stabilizers?

A simple model and an application to EMU
ByMarco Buti, Paul Van den Noord
Size: 0.54 MB